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Nonprofiteer
← CREDIT UNIONS CHARTERED IN COLORADO

Form 990 for tax year 2022

Filed by CREDIT UNIONS CHARTERED IN COLORADO.

Totals

Total revenue
$5,012,668
Total expenses
$4,683,619
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,587,569
Investment income
$406,993
Other revenue
$18,106
Total assets, end of year
$124,187,200
Total liabilities, end of year
$114,300,507
Net assets or fund balances, end of year
$9,886,693
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST ON LOANS TO MEMBERS

    total $3,235,150 · related or exempt $3,235,150

  • 2b · Program service revenue: FEES CHARGED TO MEMBERS

    total $571,975 · related or exempt $565,844 · unrelated business $6,131

  • 2c · Program service revenue: OTHER PROGRAM SERVICE REVENUE

    total $683,023 · related or exempt $683,023

  • 2d · Program service revenue: CREDIT CARD FEES

    total $97,421 · related or exempt $97,421

  • 3 · Investment income

    total $406,993 · excluded $406,993

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $7,334 · excluded $7,334

  • 6a · Gross rents

    real property $7,150

  • 6b · Less rental expenses

    real property $7,592

  • 6c · Rental income or loss

    real property -$442 · personal property $0

  • 6d · Net rental income or loss

    total -$442 · related or exempt -$442

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: CREDIT UNION SERVICE ORG. EQUITY INVESTMENT

    total $11,214 · related or exempt $11,214

  • 11e · Other revenue, total

    $11,214

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $407,974

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,381,623

  • 8 · Pension plan contributions

    total $54,009

  • 9 · Other employee benefits

    total $186,314

  • 10 · Payroll taxes

    total $169,751

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $13,635

  • 11c · Fees: accounting

    total $69,859

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $466,494

  • 12 · Advertising and promotion

    total $23,086

  • 13 · Office expenses

    total $407,567

  • 14 · Information technology

    total $457,275

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $205,780

  • 17 · Travel

    total $6,944

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $34,566

  • 20 · Interest

    total $295,872

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $66,253

  • 23 · Insurance

    total $45,807

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $68,077

  • 24b · Other expenses: LOAN EXPENSES

    total $163,365

  • 24c · Other expenses: COMMUNICATIONS

    total $48,675

  • 24d · Other expenses: DUES/FEES

    total $32,075

  • 24e · All other expenses

    total $78,618

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $846,429 · end of year $751,366

  • 2 · Savings and temporary cash investments

    beginning of year $18,714,334 · end of year $10,141,500

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $46,594 · end of year $119,257

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $75,535,459 · end of year $90,276,525

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $731,793 · end of year $990,358

  • 10a · Land, buildings and equipment: cost or other basis

    $2,753,255

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,104,592

  • 10c · Land, buildings and equipment, net

    beginning of year $648,757 · end of year $648,663

  • 11 · Investments: publicly traded securities

    beginning of year $17,822,762 · end of year $13,240,160

  • 12 · Investments: other securities

    beginning of year $1,099,967 · end of year $1,266,021

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $6,167,948 · end of year $6,753,350

  • 17 · Accounts payable and accrued expenses

    beginning of year $319,048 · end of year $261,678

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $109,811,103 · end of year $114,038,829

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $2,002,559 · end of year $2,002,559

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,481,333 · end of year $7,884,134

Mission and programs · 2022

Mission

TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION BY PROVIDING THEM THE OPPORTUNITY TO ACCUMULATE SHARES AND TO MAKE LOANS FROM THESE SHARES.

Activities or mission (Part I)

TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION BY PROVIDING THEM THE OPPORTUNITY TO ACCUMULATE SHARES AND TO MAKE LOANS FROM THEM.

  • PROVIDE A WIDE VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO OVER 9,000 MEMBERS OF THE CREDIT UNION.

As filed on the 2022 return.

Listed in Part VII

  • Peter Bullard

    PRESIDENT/CEO

    Total calculated
    $198,968
    From this org
    $182,426
    From related orgs
    $0
    Other
    $16,542
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $161,112
    Bonus
    $12,500
    Other
    $8,814
    Deferred
    $10,955
    Nontaxable benefits
    $5,587
    Filer's total
    $198,968

  • Karrie Marchese

    AVP OF LENDING

    Total calculated
    $111,973
    From this org
    $97,355
    From related orgs
    $0
    Other
    $14,618
    Hours/week
    50

  • John Huddleston - Thru 92022

    VP OF FINANCE AND ACCOUNTING

    Total calculated
    $97,033
    From this org
    $89,921
    From related orgs
    $0
    Other
    $7,112
    Hours/week
    60

  • ROBERT BRUHN - Beginning 1222

    VP OF FINANCE AND ACCOUNTING

    Total calculated
    $3,538
    From this org
    $3,538
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

  • Wendy Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Andrew McCabe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • David Reynolds

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Martina Ferris

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Milford Adams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Nathaniel Peterson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Thomas Davidson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RANDALL MIMS AND WILLIAM GRUBBS IRR TRUS

    TRUST · HOLD INSUR PO · CO · 100% owned · controlled entity

    Directly controlled by CUR

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202302779349300015

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